The corporate venture capital arm of the Bosch group, Robert Bosch Venture Capital, has announced that it has increased its financial stake in the Israel-based startup Allegro.AI, a firm focused on AI deep learning in relation and as applied to computer vision tech.
The Ramat-Gan based startup now claims to possess the world’s first “end-to-end artificial intelligence (AI) lifecycle management solution,” it should be noted — no doubt part of the reason that Robert Bosch Venture Capital has now invested further funds in the company.
With the new funding taken into account, the firm has now collected a total of $11 million in investments from a variety of prominent venture capital arms — including Robert Bosch Venture Capital, Samsung Catalyst Fund, Mizmaa Ventures, Dynamic Loop Capital, and JumpGate Ventures.
The managing director of Robert Bosch Venture Capital, Dr Ingo Ramesohl, commented on the news: “One key challenge in deep learning based solutions available in the market today, is that ‘learning’ stops when products — for example security cameras or autonomous vehicles — are deployed to the field. Providing deep learning solutions for computer vision that function in real-world scenarios is an industry wide challenge, and of strategic importance to Bosch.”
The press release provides more: “Allegro.AI helps to bridge the gap between lab and field in deep learning, as well as the debilitating shortage in highly trained data scientists, both of which are inhibiting the introduction of next generation computer-vision based products. Allegro’s technology enables for the first time to implement continuous-learning computer vision processing in real-life situations on edge devices — e.g., in self driving cars or security cameras. The company also provides automation tools for data scientists‘ time-consuming tasks.”
The new funding will reportedly be used by Allegro.AI for the further development of the company’s deep learning computer vision platform, as well as for further hiring work.
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